If a couple bought a rental house for $195,000 with an assessed value of $180,000, what is the monthly contribution required for taxes at a rate of $1.50 per $100?

To determine the monthly contribution required for taxes, first, you need to calculate the annual property tax based on the assessed value of the property and the tax rate.

The assessed value of the rental house is $180,000. The tax rate is given as $1.50 per $100 of assessed value. To find the total annual tax, follow these steps:

1. Calculate how many "hundreds" there are in the assessed value:

[

\frac{180,000}{100} = 1,800.

]

2. Multiply the number of hundreds by the tax rate:

[

1,800 \times 1.50 = 2,700.

]

Therefore, the total annual property tax is $2,700.

3. To find the monthly contribution, divide the annual tax by 12 (the number of months in a year):

[

\frac{2,700}{12} = 225.

]

Thus, the correct answer is that the couple would need to contribute $225.00 per month for property taxes. This calculation takes into account the assessed value and the tax rate accurately to arrive at the correct monthly tax contribution.